DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2025-08-29 23:00:02 GMT
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| US | DE | US | US | US | US | DE | US | NZ | NZ | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| European Euro | Butter Cash Settled | Eurex Butter | Cheddar Cheese Cash Settled | Class 3 Composite | Class 4 Composite | Nonfat Dry Composite | Eurex Skimmed Milk Powder | Whey, Dry, Electronic | Whole Milk Powder | Skimmed Milk Powder | |||||||||||
| Pips | CMG | EUREX | CMG | CME | GLOBEX | GLOBEX | EUREX | GLOBEX | NZF | NZF | |||||||||||
| DA basis | EUR/mT | DA Basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | ||
| Swap | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | |
| EUR | C3CBE | FBUTE | C3CSCE | C3QDAE | C3GDKE | C3GNFE | FSMPE | C3DYE | WMPE | SMPE | |||||||||||
| SEP25 | 1.17 | +237.2 | 4292.1 | +381.1 | 7858.3 | +190.3 | 4103.0 | +18.14 | 357.1 | -0.74 | 342.5 | +10.89 | 571.5 | +124.9 | 2815.8 | -4.95 | 259.7 | +92.90 | 2185.3 | +63.30 | 1603.9 |
| OCT25 | 1.17 | +244.3 | 4398.8 | +367.1 | 7577.4 | +186.4 | 4020.0 | +17.85 | 351.4 | -0.13 | 348.9 | +11.22 | 572.2 | +125.2 | 2816.7 | -4.62 | 260.5 | +93.90 | 2199.9 | +63.80 | 1607.7 |
| NOV25 | 1.18 | +241.9 | 4347.8 | +364.2 | 7521.5 | +186.4 | 4021.0 | +17.88 | 352.0 | -0.33 | 345.6 | +10.86 | 565.8 | +125.3 | 2817.7 | -4.76 | 258.4 | +94.60 | 2214.5 | +64.00 | 1611.8 |
| DEC25 | 1.18 | +243.6 | 4367.8 | +364.3 | 7519.6 | +183.7 | 3964.0 | +17.68 | 348.0 | -0.01 | 347.8 | +10.88 | 562.1 | +125.9 | 2827.2 | -4.84 | 252.7 | +93.70 | 2192.1 | +64.50 | 1618.4 |
| JAN26 | 1.18 | +243.3 | 4356.9 | +353.3 | 7300.0 | +182.4 | 3936.0 | +17.57 | 345.9 | +0.16 | 349.1 | +10.91 | 560.6 | +126.4 | 2834.9 | -5.19 | 243.8 | +93.60 | 2189.0 | +65.60 | 1637.0 |
| FEB26 | 1.18 | +244.1 | 4365.4 | +353.8 | 7308.6 | +182.3 | 3934.0 | +17.53 | 345.1 | +0.21 | 349.3 | +10.97 | 561.1 | +127.1 | 2846.0 | -5.56 | 235.7 | +93.80 | 2191.0 | +66.80 | 1659.7 |
| MAR26 | 1.19 | +247.0 | 4384.7 | +353.6 | 7306.3 | +182.8 | 3944.0 | +17.55 | 345.4 | +0.29 | 351.1 | +11.03 | 562.5 | +127.7 | 2859.2 | -5.84 | 230.4 | +93.90 | 2194.3 | +67.80 | 1680.1 |
| 4Q25 | 1.19 | +243.3 | 4309.6 | +365.2 | 7539.5 | +185.5 | 4001.7 | +17.80 | 350.5 | -0.15 | 347.4 | +10.98 | 566.7 | +125.5 | 2820.5 | -4.74 | 257.2 | +94.10 | 2202.2 | +64.10 | 1612.6 |
| 1Q26 | 1.20 | +244.8 | 4318.3 | +353.6 | 7305.0 | +182.5 | 3938.0 | +17.55 | 345.5 | +0.22 | 349.8 | +10.97 | 561.4 | +127.1 | 2846.7 | -5.53 | 236.6 | +93.80 | 2191.4 | +66.70 | 1658.9 |
| 2Q26 | 1.20 | +254.9 | 4470.7 | +361.5 | 7461.0 | +184.1 | 3970.0 | +17.55 | 345.5 | +0.75 | 360.2 | +11.33 | 568.5 | +129.3 | 2891.1 | -5.84 | 230.6 | +95.30 | 2220.5 | +69.90 | 1720.9 |
| 3Q26 | 1.20 | +263.4 | 4599.8 | +377.5 | 7781.3 | +187.4 | 4038.0 | +17.77 | 349.8 | +1.12 | 371.8 | +11.77 | 581.4 | +134.1 | 2988.6 | -6.37 | 224.4 | +93.70 | 2194.0 | +70.00 | 1726.8 |
| 4Q26 | 1.21 | +271.2 | 4714.6 | +378.2 | 7796.6 | +189.9 | 4090.3 | +17.89 | 352.1 | +1.30 | 376.9 | +12.00 | 588.0 | +138.1 | 3070.1 | -7.00 | 214.9 | +94.60 | 2213.5 | +69.50 | 1720.3 |
| 2025 | 1.21 | +245.2 | 4277.3 | +374.2 | 7716.5 | +185.2 | 3995.8 | +17.76 | 349.7 | - | 349.7 | +11.22 | 570.5 | +125.3 | 2815.5 | -4.62 | 258.8 | +95.20 | 2223.9 | +64.10 | 1611.7 |
| 2026 | 1.21 | +258.6 | 4481.5 | +367.7 | 7586.0 | +186.0 | 4009.1 | +17.69 | 348.2 | +0.84 | 364.7 | +11.51 | 574.8 | +132.1 | 2949.1 | -6.18 | 226.6 | +94.30 | 2204.9 | +69.00 | 1706.7 |
| 2027 | 1.22 | +219.7 | 3812.0 | +398.6 | 8158.7 | +189.1 | 4036.5 | +15.92 | 313.4 | +0.29 | 319.2 | +18.59 | 679.3 | +132.6 | 2923.0 | -7.21 | 171.5 | +97.00 | 2221.8 | +71.60 | 1723.8 |
| 2028 | 1.22 | +230.8 | 4079.1 | +592.8 | 10531 | -36.10 | -676.9 | -1.88 | -33.40 | +16.23 | 255.8 | +30.23 | 505.3 | +175.4 | 3092.5 | +2.97 | 19.40 | +113.2 | 1984.8 | +109.7 | 1921.0 |
| 2029 | 1.22 | - | 4461.1 | - | 10628 | - | 3794.6 | - | 349.7 | - | 372.3 | - | 2939.9 | - | - | - | 835.3 | - | - | - | - |
| SEP25 |
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| OCT25 |
| NOV25 |
| DEC25 |
| JAN26 |
| FEB26 |
| MAR26 |
| 4Q25 |
| 1Q26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 2025 |
| 2026 |
| 2027 |
| 2028 |
| 2029 |